Expert says Standard Chartered debit card users at risk over security issue
Karachi: A digital expert has asked the State Bank of Pakistan to take notice of what he said a serious security issue at Standard Chartered Pakistan.
Habibullah Khan said in a Twitter thread that people are losing money in debit card transactions.
“In a matter of minutes people have lost 54,000 to 72,000 rupees.,” he said.
Khan said, “The withdrawals typically happen in multiple transactions on your debit card. Transactions often happen on the Apple store. Sometimes on Uber. THERE ARE NO OTP’s for you to enter!!! You just lose your money.This has been happening for months and Standard Chartered has neither admitted this is a problem nor clearly addressed it.”
He said all the bank’s debit card users in Pakistan are at risk.
“What you do get from Standard Chartered is a torturous process that can take up to six months to complete to get your money back, he lamented.
He requested the State Bank of Pakistan to send one of their crack audit teams to see how Standard Chartered’s security controls are so weak.
” Why their governance is so weak and why they have not reported to the central bank that their users are getting regularly hacked,” he concluded.
In response to Khan’s thread, multiple users confirmed that they have been facing the issue highlighted by him.
The Standard Chartered Bank Pakistan Limited said,
The Standard Chartered Bank Pakistan Limited said in a statement that, “For reasons of client confidentiality we cannot share any details. Rest assured, we have robust processes and procedures in place and our systems have not been affected.”